Investing in high-yielding dividend stocks can be a reliable means of earning a stable passive income. One has to invest around $180,000 in monthly-paying dividend stocks, which offer dividend yields of over 6.7%, to earn a monthly income of $1,000. Let’s look at three top monthly-paying dividend stocks that could help you earn $1,000 monthly.
COMPANY
RECENT PRICE
NUMBER OF SHARES
INVESTMENT
DIVIDEND
MONTHLY DIVIDEND
FREQUENCY
NWH
$5.08
11811
60,0000
$0.03
$354.3
Monthly
WCP
$10.47
5730
59,993
$0.0608
$348.4
Monthly
EXE
$7.37
8141
59,999
$0.04
$325.6
Monthly
Total
$1,028.4
NorthWest Healthcare Properties REIT
NorthWest Healthcare Properties REIT (TSX:NWH) owns and operates 219 defensive healthcare properties, with a total leasable area of 17.7 million square feet. The company was under pressure over the last few months due to concerns over rising interest rates and an increase in its leverage. However, the REIT has undertaken several initiatives, such as divesting $450 million of non-core assets. Besides, it has slashed its monthly dividend and amended, extended, and refinanced its debt facilities, strengthening its financial position.
Besides, NorthWest Healthcare reported impressive occupancy and rent collection rates of 97% and 99%, respectively, in the December-ending quarter. Its topline grew 4.1%, primarily due to rental lease indexation. However, the increase in interest expenses amid higher interest rates and adjustments to investment property fair values weighed on its bottom line, with its net losses increasing from $135.5 million to $188.9 million. However, the company’s initiatives could boost its profitability in the coming quarters.
Also, despite slashing dividends, its forward yield stands at a juicy 7.09%. Further, it trades at a cheaper price-to-book multiple of 0.6, making it an attractive buy.
Whitecap Resources
Oil prices have strengthened this year, with WTI (West Texas Intermediate) crude rising around 17% since the beginning of this year. The extension of voluntary production cuts by OPEC (Organization of the Petroleum Exporting Countries) and its allies has raised concerns of a supply deficit. Besides, the geopolitical tension in the Middle East has also supported oil prices. Meanwhile, few analysts predict more upsides to oil prices. Higher oil prices could benefit oil-producing companies, such as Whitecap Resources (TSX:WCP), which acquires and owns oil and natural gas-producing assets.
The Calgary-based company plans to make a capital investment of $900-$1,100 million this year, strengthening its asset base. Amid these investments, the company expects its 2024 average production to be between 165,000-170,000 barrels of oil equivalent per day, with the midpoint representing a 7% increase from the previous year. In the long run, WCP’s management expects its average production to reach 210,000 barrels of oil equivalent per day by 2028, representing annualized growth of 5%. Higher production and favourable oil prices could boost its financials, making its future dividend payouts safer.
Meanwhile, WCN currently pays a monthly dividend of $0.0608/share, with its forward yield at 6.97%. It also trades at an attractive NTM (next 12 months) price-to-earnings multiple of 6.5, making it an ideal buy.
Extendicare
Another top monthly-paying dividend stock would be Extendicare (TSX:EXE), which offers care and services to seniors across Canada. Last month, the company reported an impressive fourth-quarter performance, with its revenue growing by 12.8% amid improved occupancy, rate hikes, and increased funding. Besides, its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) increased by 47.2% to $28.7 million amid topline growth and cost management efforts.
With the growing aging population, the demand for care and services could rise, thus expanding the addressable market for Extendicare. The Markham-based company began the construction of two new LTC (long-term care) homes in the Ottawa region, therefore increasing the number of LTC homes under construction to six. Besides, it expects to open three of these LTC homes this year. So, its growth prospects look healthy.
Meanwhile, Extendicare is currently paying a monthly dividend of $0.04/share, with its forward yield currently at 6.51%. Also, its NTM price-to-sales multiple stands at 0.5, making it an excellent buy.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
